China's $200-billion sovereign wealth fund is still in robust financial health despite the small losses in its overseas investments during 2008, Lou Jiwei, chairman of China Investment Corporation (CIC), said in an article published in the Caijing Magazine on Tuesday. CIC has largely fulfilled the objectives set by the board of directors at the beginni...
China will ask foreign investors to commit to a lockup period of five years or more when they acquire stakes in Chinese banks, Liu Mingkang, chairman of China Banking Regulatory Commission (CBRC) said. If Chinese commercial banks want to bring in foreign investors in future, the lockup period of shares held by those investors will have to be at least five...
China's top steel maker, Baoshan Iron & Steel Co. Ltd. (Baosteel), said it would cut prices for a second straight month in May as there was no end in sight to a deepening demand decline in the world's No. 1 consumer. Prices would be cut by 200 yuan (29.30 U.S. dollars) to 500 yuan per tonne, the company said Wednesday. Steel prices vary, but a commo...
China's electronics and information industry reported a fixed assets investment of 30.7 billion yuan (4.5 billion U.S. dollars) in January and February, up 25.6 percent year on year, the Ministry of Industry and Information Technology said Tuesday. The growth was 5.1 percentage points higher than the same period last year, the ministry said in a We...
Huawei Technologies (Bangladesh) Ltd., under its corporate social responsibility program, funded Bangladesh University of Engineering and Technology (BUET) a 3 million U.S. dollars wireless communication laboratory. Vice Chancellor of BUET A.M.M. Safiullah at the launching ceremony held here Tuesday expressed his thanks to Huawei for its support to build ...
Vice President of China Development Bank (CDB) Liu Kegu signed a memorandum of cooperation here on Monday with President of Inter-American Development Bank (IDB) Luis Alberto Moreno. After the signing ceremony, Liu told Xinhua that the memo draws a full picture of future cooperation between the two banks. He said that the CDB will take an active part ...
Both the United States and China share common interests in a stable international financial system and the policy adopted by China is providing a very stabilizing role in the system, Secretary of Treasury Timothy Geithner said on Monday. Geithner made the remarks at a news briefing held in the running-up to the Group of 20 (G-20) financial summit schedule...
The Asian Development Bank (ADB) forecast in a report Tuesday morning that economic growth in China would slow to 7 percent in 2009 as a result of world economic downturn. ADB's flagship annual economic publication, Asian Development Outlook 2009, said China's economic growth rate would drop to 6 percent in the first quarter from 6.8 percent in the four...
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